An investigation of the impact of dispatchable power routers on electricity markets and market participants

2014 ◽  
Author(s):  
James Jamal Thomas ◽  
Jorge E. Hernandez ◽  
Santiago Grijalva
Keyword(s):  
Electricity Markets ◽  
Market Participants ◽  
The Impact

scholarly journals Light a lamp and look at the stock market

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Radeef Chundakkadan
Keyword(s):  
Stock Market ◽  
Financial Distress ◽  
Investor Sentiment ◽  
Downside Risk ◽  
Bond Yields ◽  
Risky Assets ◽  
Market Participants ◽  
Market Return ◽  
The Impact

AbstractIn this study, we investigate the impact of the light-a-lamp event that occurred in India during the COVID-19 lockdown. This event happened across the country, and millions of people participated in it. We link this event to the stock market through investor sentiment and misattribution bias. We find a 9% hike in the market return on the post-event day. The effect is heterogeneous in terms of beta, downside risk, volatility, and financial distress. We also find an increase (decrease) in long-term bond yields (price), which together suggests that market participants demanded risky assets in the post-event day.

scholarly journals Investment Incentives in Competitive Electricity Markets

2018 ◽  
Vol 8 (10) ◽  
pp. 1978 ◽  
Author(s):  
Jaber Valinejad ◽  
Taghi Barforoshi ◽  
Mousa Marzband ◽  
Edris Pouresmaeil ◽  
Radu Godina ◽  
...  
Keyword(s):  
Electricity Markets ◽  
Electricity Market ◽  
Planning Horizon ◽  
Optimization Method ◽  
Design Criterion ◽  
Mixed Integer ◽  
Investment Incentives ◽  
Mixed Integer Linear Program ◽  
Interconnected Power System ◽  
The Impact

This paper presents the analysis of a novel framework of study and the impact of different market design criterion for the generation expansion planning (GEP) in competitive electricity market incentives, under variable uncertainties in a single year horizon. As investment incentives conventionally consist of firm contracts and capacity payments, in this study, the electricity generation investment problem is considered from a strategic generation company (GENCO) ′ s perspective, modelled as a bi-level optimization method. The first-level includes decision steps related to investment incentives to maximize the total profit in the planning horizon. The second-level includes optimization steps focusing on maximizing social welfare when the electricity market is regulated for the current horizon. In addition, variable uncertainties, on offering and investment, are modelled using set of different scenarios. The bi-level optimization problem is then converted to a single-level problem and then represented as a mixed integer linear program (MILP) after linearization. The efficiency of the proposed framework is assessed on the MAZANDARAN regional electric company (MREC) transmission network, integral to IRAN interconnected power system for both elastic and inelastic demands. Simulations show the significance of optimizing the firm contract and the capacity payment that encourages the generation investment for peak technology and improves long-term stability of electricity markets.

Sensitivity Based Approach for Transmission Congestion Management Utilizing Bids for Generation Rescheduling and Load Curtailment

2006 ◽  
Vol 7 (4) ◽  
Author(s):  
Himanshu Kumar Singh ◽  
S.C. Srivastava ◽  
Ashwani Kumar Sharma
Keyword(s):  
Electricity Markets ◽  
Power Flow ◽  
Reactive Power ◽  
Congestion Management ◽  
Test System ◽  
Hyperbolic Function ◽  
Flow Sensitivity ◽  
Fair Competition ◽  
Load Curtailment ◽  
The Impact

One of the most important tasks of System Operator (SO) is to manage congestion as it threatens system security and may cause rise in electricity price resulting in market inefficiency. In corrective action congestion management schemes, it is crucial for SO to select the most sensitive generators to re-schedule their real and reactive powers and the loads to curtail in extreme congestion management. This paper proposed the selection of most sensitive generators and loads to re-schedule their generation and load curtailment based on the improved line flow sensitivity indices to manage congestion. The impact of slack bus on power flow sensitivity factors has been determined to encourage fair competition in the electricity markets. Effect of bilateral and multilateral transactions, and impact of multi-line congestion on congestion cost has also been studied. The generators’ reactive power bid has been modeled by a continuous differentiable tangent hyperbolic function. The proposed concept of congestion management has been tested on a practical 75-bus Indian system and IEEE-118-bus test system.

scholarly journals On Selecting Approaches to Analysis of the Residential Property Market

2019 ◽  
Vol 10 (2) ◽  
Author(s):  
Natalya Kovalevskaya ◽  
Vladislav Tyunkov
Keyword(s):  
Real Estate ◽  
Residential Property ◽  
Property Market ◽  
Dual Nature ◽  
Factors Affecting ◽  
Market Participants ◽  
Consumer Interests ◽  
Private Investors ◽  
The Impact ◽  
Private Individual

The article examines the issues of developing the residential property market taking into account the specifics of real estate as an object of the economic analysis. It reveals the terms of implementing economic interest in investing in residential property, identifies the features inherent in the residential property market as investment and commodity markets. It analyses the dual nature of real estate which explains the development of investment and consumer interests of the residential property market participants. The article analyses the interrelation of «saving - investment - consumption» at the level of implementing private (individual) interests of economic subject. It makes a comparison of various investment assets in terms of their attractiveness for private investors, depending on various factors affecting the decision to invest. It analyses the terms that allow to fully disclose the investment or consumer aspects of the residential property market. It considers the impact of the governmental investment policy directed at supporting and promoting development aspects of the residential property market.

scholarly journals TRANSFORMATIONAL TRENDS AND INNOVATIVE FACTORS IN THE DEVELOPMENT OF THE WHOLESALE AND RETAIL SECTORS OF THE PHARMACEUTICAL MARKET

2021 ◽  
pp. 27-35
Author(s):  
E. A. Bykova
Keyword(s):  
Pharmaceutical Industry ◽  
Structural Changes ◽  
State Regulation ◽  
Pharmaceutical Market ◽  
Essential Medicines ◽  
Pharmaceutical Companies ◽  
Innovative Development ◽  
Market Participants ◽  
The Impact

The article discusses important features of trends in the transformation of the wholesale and retail level of the Russian medicinal market in the context of innovative factors in the development of the pharmaceutical industry in Russia. The paper gives a general assessment of the impact of state regulation of the maximum selling prices for medicines from the list of vital and essential medicines on the profitability of the market. The author presents a simplified institutional scheme of interaction between distributors and other market participants. The study discusses important aspects and tactical steps of the distribution and pharmacy level of the Russian pharmaceutical market. The article gives the ratings of the leading distribution pharmaceutical companies in Russia and analyses the peculiarities of their structural changes under the influence of innovative development factors. The paper gives ratings of leading pharmacy chains and analyses the features of new structural formations – associations. The author proposes the term of “polarization” for wholesale and retail companies.

scholarly journals Understanding of Teachers and Healthcare Professionals about their Professional Development

2021 ◽  
Author(s):  
Oskars Kaulēns ◽  
◽  
Reinis Upenieks
Keyword(s):  
Professional Development ◽  
Labor Market ◽  
Informal Learning ◽  
Technology Use ◽  
Healthcare Professionals ◽  
Technological Development ◽  
Professional Performance ◽  
Market Participants ◽  
Study Results ◽  
The Impact

Changes in technology use and globalization are leading to significant changes in the structure of the labor market, emphasizing the need for labor market participants to learn continuously and acquire new knowledge and skills in order to adapt to a rapidly changing work environment. Economists point to the risks posed by technological development, such as the reduction of low-skilled jobs as a result of digitalization and automation processes. Although professionals working with people, such as healthcare professionals and teachers, are less exposed to the risk of automation, they are still increasingly unstable as technology and artificial intelligence compete with human experts. This means that medical and education staff will also need more targeted, regular and labor market-oriented professional development in order to remain competitive and demonstrate demand-driven performance. In line with changes in the quality standards of professional performance for healthcare professionals and teachers, changes are also taking place in how the professional development of these groups is implemented. In addition to formal development activities such as courses and seminars, the need to accept the impact of informal learning is emphasized, not only expanding the aims and content of professional development activities but also offering new learning formats. The aim of the qualitative research conducted by the authors is to study the understanding of teachers and healthcare professionals about their professional development by analyzing their answers regarding their professional development. The focus of the study has been chosen to test the assumption that healthcare professionals and teachers view their continuing education more in the context of formal training, with less emphasis on professional development through informal learning. Within the framework of the research, a survey of random respondents within the said target groups has been conducted and the answers of the respondents have been analyzed, with attention paid to the aspects of formal and informal learning. The article presents the results of the content analysis, highlighting the most important trends of study results and the problematic aspects related to the improvement of the quality of professional development.

scholarly journals Challenges in currency derivatives management in the OTC market in Poland during the Covid-19 pandemic

2021 ◽  
pp. 254-263
Author(s):  
Piotr Wybieralski
Keyword(s):  
Market Volatility ◽  
Professional Literature ◽  
Market Participants ◽  
Preventive Actions ◽  
Force Majeure ◽  
Early Settlement ◽  
Currency Derivatives ◽  
Volatility Analysis ◽  
Crisis Conditions ◽  
The Impact

Purpose: The aim of the chapter is to analyze the impact of the Covid-19 pandemic and market volatility increase on risk management in the OTC derivatives market in Poland. Design/methodology/approach: The chapter describes the legal background of derivatives trading with non-financial enterprises, then identifies the main risks, and discusses possible actions of market participants. In this regard, the study conducts volatility analysis based on selected market data. Findings: Due to volatility increase and the resulting negative valuation of non-matured currency derivatives by Polish exporters, margin call clauses were triggered, entailing the need to post additional collateral or prematurely close contracts. The described situation is particularly difficult when the pre-settlement limit is fully utilized on deal date, usually in the case of long-lasting large open exposures in non-flexible transactions. Research implications: To determine market risk, studies often apply the VaR approach. Inthis way, the specific amount of risk is analyzed on adaily basis and used by banks both to determine the maximum amount of the contract and to control pre-settlement risk. Apart from many advantages of the VaR approach, there are some drawbacks, especially related to volatility estimation, which usually relies on historical market fluctuations. It may cause that the risk will not be properly valued under crisis conditions. In such situations, supplementary methods should be also implemented (stresstests). Practical implications: Under high market volatility, preventive actions should be prepared in advance, including treasury limit increase, additional funds for collaterals, or contracts modification (flexible products should be considered).Originality and value: The study covers a challenge that banks face, which is rarely described in professional literature but very serious for bank management. Under normal market conditions, if the margin call clause appears and no additional collateral is posted, the transaction should be closed to limit the counterparty’s loss. However, this type of action during the pandemic may impose the risk of force majeure. From the company perspective, using such instruments threatens their early settlement and the need to finance closeout amount.

The emerging threat of artificial intelligence on competition in liberalized electricity markets: A deep Q-network approach

2021 ◽  
Author(s):  
Danial Esmaeili Aliabadi ◽  
Katrina Chan
Keyword(s):  
Electricity Markets ◽  
Information Disclosure ◽  
End Users ◽  
Influential Factors ◽  
Bidding Strategies ◽  
Q Learning ◽  
Development Goals ◽  
Available Information ◽  
The Impact

Abstract BackgroundAccording to sustainable development goals (SDGs), societies should have access to affordable, reliable, and sustainable energy. Deregulated electricity markets have been established to provide affordable electricity for end-users through advertising competition. Although these liberalized markets are expected to serve this purpose, they are far from perfect and are prone to threats, such as collusion. Tacit collusion is a condition, in which power generating companies (GenCos) disrupt the competition by exploiting their market power. MethodsIn this manuscript, a novel deep Q-network (DQN) model is developed, which GenCos can use to determine the bidding strategies to maximize average long-term payoffs using available information. In the presence of collusive equilibria, the results are compared with a conventional Q-learning model that solely relies on past outcomes. With that, this manuscript aims to investigate the impact of emerging DQN models on the establishment of collusive equilibrium in markets with repetitive interactions among players. Results and ConclusionsThe outcomes show that GenCos may be able to collude unintentionally while trying to ameliorate long-term profits. Collusive strategies can lead to exorbitant electric bills for end-users, which is one of the influential factors in energy poverty. Thus, policymakers and market designers should be vigilant regarding the combined effect of information disclosure and autonomous pricing, as new models exploit information more effectively.

Testing Market Reaction On Stock Market Delisting In Russia

2021 ◽  
Vol 15 (3) ◽  
pp. 14-27
Author(s):  
Елена Моисеевна Рогова ◽  
Maria Belousova
Keyword(s):  
Stock Market ◽  
Stock Prices ◽  
Statistical Significance ◽  
Abnormal Returns ◽  
Global Market ◽  
Public Companies ◽  
Market Participants ◽  
Study Methodology ◽  
Available Information ◽  
The Impact

This paper expands the available information on the effects of delisting in Russia, and represents a rare empirical analysis of the impact of external events on securities prices in this major global market. We seek to evaluate how stock prices of competing companies fluctuate around the dates of stock market delisting announcements and completion. We analyse stock prices as correlated with company delisting events from 2004 to 2019 on 552 companies on the Russian MOEX Exchange. The event study methodology is used to evaluate the abnormal returns of rival companies close to relevant delisting dates. These data were checked for statistical significance using the standardised Patell residual test. The results indicate a significant competitive effect on stock prices both on the dates of delisting announcement and on completion, with more significant returns close to announcement dates. These effects were found to influence the prospects not just of individual groups of companies, but of all market participants. We may conclude from our results that delisting is not an event limited in effect to only one company, but impacts the industry as a whole, temporarily changing its value. As such, it will interest both shareholders and managers of public companies, and any participants of industries in which delisting occurs.

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